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sam allardyce 6:43 Thu Feb 19
Renting out my house. Tax?
Firstly, let me start by apologising for being a fat, arrogant bastard who hates all of you and for being stupid enough to promise Kevin Nolan that I'd always pick him when he was finishing me off once.

Now that's out of the way, I need your help on something.

I want to rent out my house. I'm in the process of getting a new mortgage and want to get a normal repayment one, not a but to let mortgage. The question is, is it possible to get the mail for the mortgage sent to an address different from the house being mortgaged?

Anyone know?

Replies - Newest Posts First (Show In Chronological Order)

WorldCupWilly 8:40 Thu Feb 19
Re: Renting out my house. Tax?
Credit agencies regularly cross check electoral rolls against borrowers addresses, so you might have a problem if the people renting, register themselves as living there and it gets flagged to your mortgage lender. Also if the renters take out house or car insurance a credit check is typically done and that might flag up something against the address.

If you've not already done so get a credit report on yourself to see what's been put against the address so far - they're free at :
https://www.noddle.co.uk/

Uncle Junior 8:10 Thu Feb 19
Re: Renting out my house. Tax?
Just get a re-direction service from the GPO for your post ...works well and cost about 30 notes ... Will mean all your post goes to another address and the senders never know ...only downside is that they will only do it for max 2years

sam allardyce 7:45 Thu Feb 19
Re: Renting out my house. Tax?
My plan is not to tell any fucker. Thereby ensuring that I, not someone who went to Oxbridge and lives a privileged life in parliament, gets to spend my money.

Chigwell 7:33 Thu Feb 19
Re: Renting out my house. Tax?
You should tell your lenders if you are not going to be living there - it's probably in your mortgage contract. After all they have a charge on your house as security for the loan, and renting it out affects its value.
You should also pay income tax on the rent received, with allowances for any necessary expenditure, although HSBC Switzerland may tell you not to declare it.

onsideman 7:12 Thu Feb 19
Re: Renting out my house. Tax?
That's a let to buy mortgage, rather than buy to let. You raise funds against the house you own but let that one out to fund the mortgage payments and use the capital to buy another. Quite possible, but would need to be declared to the mortgagor as it is a different product

sam allardyce 7:08 Thu Feb 19
Re: Renting out my house. Tax?
That's exactly what I was thinking but the letting agent led me to believe that it was possible, and then I thought, why not?

ATBOG 6:55 Thu Feb 19
Re: Renting out my house. Tax?
Think about it. If you get any bumph regarding your mortgage sent to another address do you think the lender might be alerted to the fact you may not be living there anymore? Best thing is to speak to them. They will more than likely be agreeable to you renting your place out. As for the tax situation, it's an income vs expenditure scenario, & potential CGT liability if you sell unless it becomes your main residence again at a later date.





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